Boulder, Inc., obtained 90 percent of Rock Corporation on January 1, 2016. Annual amortization of $23,000 is applicable on the allocations of Rock's acquisition-date business fair value. On January 1, 2017, Rock acquired 75 percent of Stone Company's voting stock. Excess business fair-value amortization on this second acquisition amounted to $9,400 per year. For 2018, each of the three companies reported the following information accumulated by its separate accounting system. Separate operating income figures do not include any investment or dividend income. Boulder Rock Stone Separate Operating Income $287,700 99,700 164,000 Dividends Declared $135,000 22,000 37,000 a. What is consolidated net income for 2018? b. How is 2018 consolidated net income distributed to the controlling and noncontrolling interests? a. b. Consolidated net income Controlling interest in consolidated net income Noncontrolling interest in consolidated net income Diamond Company owns 80 percent of Emerald and Emerald owns 90 percent of Sapphire, Inc. Separate operating income totals for the current year follow; they contain no investment income. None of these acquisitions required amortization expense. Included in Sapphire's income is a $28,000 intra-entity gain on transfers to Emerald still in Emerald's possession. Diamond Emerald Sapphire $390,000 $214,000 $295,000 Separate operating income What is Diamond's accrual-based net income for the year? Multiple Choice $766,240